Product packaging as tool to demand a price premium: Does packaging enhance consumers value perception to justify a price premium
(Sprache: Englisch)
This study addresses the question of the impact of packaging to demand a price premium leveraging
the example of retailer brand premium products in the food segment in Germany. Product tiering is a pricing structure that is commonly used by producers, in...
the example of retailer brand premium products in the food segment in Germany. Product tiering is a pricing structure that is commonly used by producers, in...
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This study addresses the question of the impact of packaging to demand a price premium leveraging the example of retailer brand premium products in the food segment in Germany. Product tiering is a pricing structure that is commonly used by producers, in which consumers are segmented by willingness to pay for specific (added) product benefits. This is a way of maximizing utility for both consumers and producers, and is commonly already leveraged by producers of branded products, but lately also by retailer brands, especially to enable growth outside the value tier.
This research uses a survey across grocery purchase decision makers in Germany to identify the relationship of packaging and willingness to pay across a sample of retailer brand Tier 1, Tier 2 and Tier 3 products as well as a branded product in four different grocery categories. The intent is to answer whether i) packaging currently justifies the premium price of retailer brand tier 1 products compared to other product tiers, ii) packaging justifies the tier 1 retailer brand price premium, and iii) demographics influence the willingness to pay a premium price.
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Textprobe/ text sample:Chapter 2.4, Retailer Brands and the shopper in the food segment :
The final focus of this literature review is an exploration of why consumers buy retailer brands. Retailer or private label brand products are produced by the retailer for in-store sales, hence they may have a distinct brand identity from the store (Grunert, K.G. et al. 1996). The actual supply chain for retailer branded products is often similar to (or even identical to) national branded products, though retailer policies on quality and consistency of goods may vary (Grunert, K.G. et al. 1996).
Most of the examples of packaging design that are held out as positively influencing consumer decision making are from large-scale international brands, which are marketed to a wide range of individuals and markets. However, retailer brands are not widely marketed and may not have as much marketing support or multi-faceted development behind them. In this section, the consumer motivations for purchase of retailer brands and a recent movement away from the value brand paradigm of the retailer brand are discussed as a mean of understanding better the increasing complexity within this sector.
2.4.1, Why do consumers buy retailer brands?
There have been a number of studies why consumers buy retailer or private label brands. While many of these studies focus on price (and related issues), other aspects of the brand choice include perceptions of quality and brand loyalty. It should be noted that packaging, while it is seen as an area for improvement by retailers, is not necessarily viewed as a strength or determining feature in the selection of products, unlike for national brands (Garrettson, J.A. et al. 2002). However, this does not necessarily indicate that packaging is unimportant.
One study focused on the choice of retailer brands as a risk assessment exercise (Batra, R., Sinha, I. 2000). The authors posited that the selection of retailer brands was associated with a certain
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amount of risk and found that the willingness to purchase was increased when there was a reduction in perceived risk (Batra, R., Sinha, I. 2000). The authors found that purchase of retailer brands was more commonly associated with products that had high search characteristics (or need for information that could be imparted on the product package) (Batra, R., Sinha, I. 2000). This reduced the uncertainty about consumption, particularly for the initial purchase and made consumers more willing to purchase (Batra, R., Sinha, I. 2000).
In addition to information and risk, several studies have addressed the role of price in the selection of retailer and private label brands. Batra, R., Sinha, I. (2000) found that price was actually a concern for the selection of both private label and national brands. In earlier research, the authors had found that price was a significant determinant of the choice of private label brands (Sinha, I., Batra, R. 1999). This was particularly true in two categories of goods (which may or may not overlap). The first category of goods was goods with a relatively low risk profile, or where the consumer was not in serious doubt about the potential quality of the private label product (Sinha, I., Batra, R. 1999). The second category of goods was where there was a high degree of perceived unfairness in the price of the national brand, which increased consumer resistance to the national brand and willingness to seek alternatives (Sinha, I., Batra, R. 1999). Obviously, not every potential retailer branded product might fall into these categories, but a large number of such products will be relevant. A second study indicates that external factors like business cycles (recessions) may increase the attractiveness of private label goods, because falling incomes mean that the price differentials between private label and national brands become much more relevant to consumers (Lamey, I., et al. 2007). Furthermore, these switches are sticky, in that consumers c
In addition to information and risk, several studies have addressed the role of price in the selection of retailer and private label brands. Batra, R., Sinha, I. (2000) found that price was actually a concern for the selection of both private label and national brands. In earlier research, the authors had found that price was a significant determinant of the choice of private label brands (Sinha, I., Batra, R. 1999). This was particularly true in two categories of goods (which may or may not overlap). The first category of goods was goods with a relatively low risk profile, or where the consumer was not in serious doubt about the potential quality of the private label product (Sinha, I., Batra, R. 1999). The second category of goods was where there was a high degree of perceived unfairness in the price of the national brand, which increased consumer resistance to the national brand and willingness to seek alternatives (Sinha, I., Batra, R. 1999). Obviously, not every potential retailer branded product might fall into these categories, but a large number of such products will be relevant. A second study indicates that external factors like business cycles (recessions) may increase the attractiveness of private label goods, because falling incomes mean that the price differentials between private label and national brands become much more relevant to consumers (Lamey, I., et al. 2007). Furthermore, these switches are sticky, in that consumers c
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Bibliographische Angaben
- Autor: Christoph Breetz
- 2014, Erstauflage, 64 Seiten, 62 Abbildungen, Masse: 15,5 x 22 cm, Kartoniert (TB), Englisch
- Verlag: Anchor Academic Publishing
- ISBN-10: 3954892324
- ISBN-13: 9783954892327
Sprache:
Englisch
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